EUR/USD – 1H – BUYThe combination Euro/US Dollar (EUR/USD) breaks through the bearish trendline up.
A bullish trend up to the next resistance line at 1.08207 is certain.
Caution: A possible trend reversal in the direction of the support level at 1.07648 could occur.
Please make appropriate stop-loss settings in the case of a trade.
Also there is a ‘Northern Doji’ chart pattern is detected. The candles form ‘Northern Doji’. which is a bullish pattern signal. The currency pair is likely to rise. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the likelyhood of ‘Northern Doji’ heading up is 52% (Bull Market) & 51% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 1.08579 |
| 2nd High | 1.08301 |
| Next High | 1.08207 |
| Current Price | 1.08235 |
| Next Low | 1.07648 |
| 2nd Low | 1.07326 |
| 3rd Low | 1.03886 |
1.08207 – 1.08023 – 1.08301 – 1.07648 – 1.07326 – 1.07770
Trading Signals: FOREX – EUR – EUR/USD – USD – Northern Doji